Ceredo advance. [volume] (Ceredo, W. Va.) 1885-1939, 1887-09-01
OHIO AND WEST VIRGINIA
MUTUAL AID ASSOCIA-
TION.
It's Plans and Workings.

Good morning, Mr.. Wiley Pleas
ant morning.
Why, how are you friend Wilson,
| am very glad to see you, how
have you been?
Very well indeed, how is it with
your What are you doing? Tell
me all about it.
Wen, Wilson, it's the same old
business in which / have been en-
gagged for about 23 years; it will be
Just % years in October since ] first
embarked in the insurance business.
You should be pretty well in
formed on the subject by this time.
Yes, should know something
about it, but my information is OF
the practical kind having been ob.
tanned by hard study accompanied
by constant effort and unceasing
work, exclusively devoted to the
profession, lift may be termed such.
What institution are you now
connected With
Ohio and West Virginia Mutual
Aid Association. Principal Cfiicc
at Parkersburg, w. va.
IL is life insurance association
on the assessment plan, ! presume?
Yes sir, different however, i'm
some important and salient features
from almost every other association
OF like character | will explain.
First, ii j. to all intents aud pur-
poses, so far as the interest of the
cert ficate holders are concerned,
purely mutual, yet in addition to the
strength of the assessment basis it is
fortified 10y paid in capital stock.
thus making payments OF all claims
absolutely certain.
1t also accumulates a reserve fund
which aids in securing to each mem.
Der the fultillment OF The contract.
Well, Mr.. Wiley, please inform
me what the reserve fund is used
/ for
With pleasure, sir. BY the Ger.
tificate and plan it is agreed, that
should the member be living at the
end Of Ten years (all conditions of
his membership having been com
Piled with a sum equal TO one half
the death benefit, shall be paid to
said surviving member and this fund
IS reserved and set apart for the
purpose Of meeting these payments.
as they fall due. 1t is the purpose
and plan Of the association 10 loan
this fund to members only, on ap-
proved security, so that ii may be
earning something in the shape Of
interest until needed to pay these
claims.
Then it partakes somewhat Of the
nature and embraces the benefit sc.
cured by Building and Loan asso-
cationsf
Yes, though farsurerior.
How sOy
Well to answer fully. allow ono 10
state that we are friendly to build.
ing and loan associations, and i'm
fact to any institution that has for
its object the betterment Of the condi.
ton OF The laboring classes and
ihOi e,persons in mediocre circum
stances. The superiority of our
plan consists partly in the fact that
II is not absolutely necessary for
member 60 live q ccFtuin number Of
years to accomplish the object in
view, as in the case in a building
and loan association, For example.
suppose that am livins in a house
for which ] pay rent at the rate Of
$50 per annum and that can buy
OF build suitable house for 81 600
being member Of the Ohio and
West Virginia Mutual Aid Asso-
ciation for $4,000 (Which means that
this sum shall be paid to my wife in
the event Of my death at any time
before ten years. apply TO ihc asso.
citation for and obtain from this re
serve fund q loan Of 81 600, with
which ] purchase n house and lot on
which / execute n deed of trust o.
the association as security for the
loan. Then my rent OF $3.50 ceases.
but am required to pay my dues
and assessments TO the association
on my membership Of $4,000. also
the interest on the loan At my age.
20. ] am assessed 81 30 on each ST..
600, hence my assessment i'm So
which wc viii suppose 10 BE re.
quired m0nthiu 0hough at the
present rTic if is only cvcrv other